LIVE News Updates: Mumbai eases curbs, restaurants & theatres can operate at 50% capacity, night curfew lifted

Mumbai eases curbs, restaurants & theatres can operate at 50% capacity, night curfew lifted

Mumbai Court grants bail to Yash Kumar in Clubhouse app case

Mumbai Court to pronounce verdict regarding Bulli Bai app accused Vishal Jha's bail on Feb 5

Debate on Motion of Thanks to President & Union Budget to start on February 2

Lost in big words signifying nothing, says Mamata Banerjee on Union Budget

IPL Auction to be held on February 12 and 13 in Bengaluru, says BCCI

M0di G0vernment’s Zer0 Sum Budget, says Rahul Gandhi on Union Budget

RBI to issue Digital Rupee in FY22-23, says FM Nirmala Sitharaman

Sensex surges 879.62 points and Nifty rises 234.70 points

Lok Sabha adjourned till tomorrow, February 2

Tax deduction limit increased from 10% to 14% of state govt employees

To provide equal treatment to both central and state government employees, the FM proposed to increase the tax deduction limit from 10% to 14%, said Finance Minister Nirmala Sitharaman while presenting the Union Budget for 2022-23.

She said, "I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except cost of acquisition".

Corporate surcharge will be reduced from 12% to 7%. Gifts of digital assets will be taxed.

Gross GST collections for January 2022 are Rs. 1,40,986 crores, which is the highest since the inception of GST.

Custom duty on cut and polished diamonds and gemstones will be reduced to 5%. Simply sawn diamonds will attract nil custom duty.

Special Economic Zones Act to be replaced with new legislation, says FM

SEZ (Special Economic Zones) Act will be replaced with new legislation for the development of enterprise and hubs. It will cover the existing industrial enclaves and enhance the competitiveness of exports, said Finance Minister Nirmala Sitharaman while presenting the Union Budget for 2022-23.

Effective Capital Expenditure of the Central Govt is estimated at Rs 10.68 lakh crores in 2022-23, about 4.1% of GDP.

Capital expenditure will be stepped up by 35.4% to Rs. 7.5 lakh crores.

Sovereign green bonds will be issued for mobilising resources for green infrastructure.

Digital rupee will be issued using blockchain and other technologies; to be issued by RBI starting 2022-23. This will give a big boost to the economy, said the FM.

The total expenditure for 2022-23 is estimated at Rs. 39.45 lakh crores, while the total receipts are estimated at Rs. 22.84 lakh crores.

Core banking services will start in post offices.

Quoting the Mahabharata, the FM said, the king must make arrangements for the welfare of the populace by way of abandoning any laxity and by governing the state in the line of Dharma.

To provide an opportunity to correct an error, taxpayers can now file an updated return within 2 years from the relevant assessment year.

Public investment must take lead to pump prime private investment and support demand.

Revised fiscal deficit at 6.9% of GDP.

Required spectrum auctions in the telecommunication sector will be conducted in 2022 to facilitate roll-out of 5G mobile services, says FM

Union Finance Minister Nirmala Sitharaman said that to reduce costs for suppliers, surety bonds will be made available.

Required spectrum auctions in the telecommunication sector will be conducted in 2022 to facilitate roll-out of 5G mobile services, says the FM.

Paperless end-to-end e-bill system will be launched for the use of central ministry for procurements. To reduce the delay in payment, an online bill system to be launched which will be used by all Central ministries.

68% of the capital procurement budget for Defence to be earmarked for domestic industry to promote Aatmanirbharta and reduce dependence on imports of defence equipment. This is up from the 58% last fiscal.

Action plan for 10 sectors such as electronic waste, end of life vehicles, used oil waste, toxic and hazardous industrial waste, etc, are already ready.

Defence R&D will be opened up for start-ups and academia.

Nirmala Sitharaman presents Budget 2022

India's growth rate is expected to be at 9.2% this year, says Finance Minister Nirmala Sitharaman. She said, "Budget 2022 is blueprint to steer the economy from India at 75 to India at 100".

She also mentioned that Make in India will create 60 lakh jobs.

Contracts for ropeway projects of 60 kms will be awarded in 2022.

The National Highways network will be expanded by 25,000 km in 2022-2023.

Rs. 2.37 lakh crores will be the direct payment of MSP value to the accounts of farmers. Chemical free, natural farming will be promoted.

400 new 'Vande-Bharat' trains will be introduced.

Skilling programs and partnerships with industries will be reoriented.

Children in government schools, who are SC, ST or belong to other weaker sections, have lost two years of education to the pandemic. One class, One TV channel, will be expanded from 12-200 TV channels. This wil enable all states to impart education in regional languages from classes 1-12. A digital university will be established.

To better access to care services, a National Telemental health program will be launched, in collaboration with NIMHANS.

Border villages on the northern border will be covered under "New Vibrant Villages program". Programs will include direct home access of Doordarshan, support for livelihood, infrastructure and tourism support.

2 lakh "anganwadis" will be upgraded.

75 digital banking units will be established by scheduled commercial banks in 75 districts.

Will follow the idea of trust-based governance, integration of central and state level system, digitisation of manual systems, with active involvement of public and businesses encouraged.

There is a need to reimagine our cities as sustainable centres of living.

Issuance of E-passports will be rolled out in 2022-23 to enhance convenience for citizens.

High level committee will be formed on urban sector policy, planning, implementation and governance.

Oil companies reduce commercial cylinder costs from today

According to ANI sources, National Oil Marketing companies have reduced commercial 19-kg LPG cylinder cost by Rs 91.50 effective from today, 1st February. 19 kg commercial cylinder will cost Rs 1907 in Delhi from today.

FM Nirmala Sitharaman arrives at the Parliament, She will present Union Budget 2022 today

FM Nirmala Sitharaman, MoS Finance call on President Kovind before presenting Union Budget

Union Finance Minister Nirmala Sitharaman, along with Ministers of State for Finance, Dr Bhagwat Kishanrao Karad, Shri Pankaj Chaudhary, and senior officials of the Ministry of Finance, called on President Ram Nath Kovind before presenting the Union Budget 2022-23, reported ANI.

Schools reopen in Chennai

Schools reopened for classes 1-12 in Chennai, Tamil Nadu, reported ANI.

Sensex soars 582.85 points, Nifty up by 156.20 points

ANI reported that Sensex soared 582.85 points and is currently trading at 58,597.02. Nifty, on the other hand, is up by 156.20 points and is currently at 17,496.05.

Schools reopen in Pune

ANI reported that schools have reopened for classes 1-10 in Pune, Maharashtra, today. The news agency quoted a student as saying "We are excited to be back; can have face-to-face conversations now."

India reported 1,67,059 new Covid cases, 1192 deaths and 2,54,076 recoveries in the last 24 hours

According to ANI, India's daily cases dropped below 2 lakh. The country reported 1,67,059 new Covid cases, 1192 deaths and 2,54,076 recoveries in the last 24 hours. This takes the number of active cases to 17,43,059 (4.20%) and the daily positivity rate to 11.69%, while the total vaccination stands at 1,66,68,48,204.

Everyone should cooperate during the presenting of the Budget: MoS Finance

ANI quoted MoS Finance Bhagwat Karad as saying, "PM Modi expects that every group - be it the ruling side or the Opposition - should sit together and listen to the presenting of the Budget and cooperate."

"All sectors should have expectations from today's budget": MoS Finance

ANI quoted MoS Finance Pankaj Chaudhary as saying, "Finance Minister Nirmala Sitharaman will present an inclusive budget, in line with each and every sectors' needs. It will be benefiting everyone. All sectors (including farmers) should have expectations from today's budget."